FirstEnergy Corporation Stock Forecast
FirstEnergy Corporation stock downgraded to Hold/Accumulate
(Updated on Apr 18, 2024)
The FirstEnergy Corporation stock price gained 0.481% on the last trading day (Thursday, 18th Apr 2024), rising from $37.45 to $37.63. During the last trading day the stock fluctuated 1.37% from a day low at $37.23 to a day high of $37.74. The price has fallen in 6 of the last 10 days and is down by -1.67% for this period. Volume fell on the last day by -745 thousand shares and in total, 2 million shares were bought and sold for approximately $64.99 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.86% during the next 3 months and, with a 90% probability hold a price between $38.68 and $40.92 at the end of this 3-month period.
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FE Signals & Forecast
There are mixed signals in the stock today. The FirstEnergy Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $37.89. On a fall, the stock will find some support from the short-term average at $37.45. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.17%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for FirstEnergy Corporation stock
FirstEnergy Corporation finds support from accumulated volume at $37.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.510 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: $35.76 (-4.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (FE) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect FirstEnergy Corporation to open at $37.53, and during the day (based on 14 day Average True Range), to move between $37.06 and $38.20, which gives a possible trading interval of +/-$0.573 (+/-1.52%) up or down from last closing price. If FirstEnergy Corporation takes out the full calculated possible swing range there will be an estimated 3.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $37.31 (0.85%) than the resistance at $38.27 (1.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
FirstEnergy Corporation will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.660. We will update the financials statements for FirstEnergy Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.09% in the first trading day after earnings release.
Is FirstEnergy Corporation stock A Buy?
FirstEnergy Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.662 Hold/Accumulate Downgraded
Predicted Opening Price for FirstEnergy Corporation of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$37.53 ( 0.257%) | $37.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.04 | 1.10 % | |
R2 | 37.85 | 0.581 % | ||
R1 | 37.73 | 0.261 % | ||
Current price: | 37.63 | |||
Support | S1 | 37.34 | -0.775 % | |
S2 | 37.22 | -1.09 % | ||
S3 | 37.02 | -1.61 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.47 | 2.23 % | |
R2 | 38.37 | 1.97 % | ||
R1 | 38.27 | 1.70 % | ||
Current price | 37.63 | |||
Support | S1 | 37.31 | -0.85% | |
S2 | 37.30 | -0.88% | ||
S3 | 37.01 | -1.65% |
FE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | May 06, 2024 | Jun 01, 2024 | $0.430 | 1.14% |
2 | Dec 20, 2023 | Feb 06, 2024 | Mar 01, 2024 | $0.410 | 1.12% |
3 | Sep 26, 2023 | Dec 01, 2023 | Dec 01, 2023 | $0.410 | 1.10% |
4 | Sep 26, 2023 | Nov 06, 2023 | Dec 01, 2023 | $0.410 | 1.10% |
5 | Jul 26, 2023 | Aug 04, 2023 | Sep 01, 2023 | $0.390 | 1.09% |
FAQ
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